Including: PHILIPPINES - JPMorgan wins Philippines mandate; ASIA-PACIFIC - IFSA signs Korean deal
Citigroup has lost custody of around $600m in overseas assets after the Philippines' Government Service Insurance System (GSIS) dropped the bank as custodian of its global investment programme (GIP)
It is understood the mandate was handed to JPMorgan on Monday (March 2).
The GSIS is mandated to run the pension fund for Philippine's government employees.
ASIA-PACIFIC - IFSA signs Korean deal
The Investment and Financial Services Association (IFSA) of Australia has signed a deal with the Korea Financial Investment Association (KOFIA) in a bid to work more closely together.
IFSA also welcomed the signing of the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) Agreement, which saw the ten ASEAN members - Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, and Vietnam - alongside Australia and New Zealand agree to open up their economies to free trade.
IFSA chief executive Richard Gilbert said: "We particularly welcome the focus on increasing regulatory transparency and improved due process in financial services such as asset management, pension fund management, custodial, depository and trust services."
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.